Business Debt Collection in London
Business Debt Collection in London
London is not only the capital and most populous city of England and the United Kingdom; it remains the region with the largest number of businesses, representing 18.9% of the UK total according to the Office of National Statistics.
So, when it comes to staying afloat and successful in this large growing economy, it is not surprising that individuals and commercial enterprises are now looking to professional Debt Collection Agencies over the long drawn out legal path that used to be the only recourse to unpaid creditors.
Financial Conduct Authority
Specialised Debt Collection agencies in London have become a feasible choice for companies as most not only run under the guidance of the Financial Conduct Authority (FCA), they are also able to avoid lengthy retrieval processes and expensive solicitor fees.
Along with traffic wardens, politicians, and estate agents, debt collection is one of those professions that have sometimes have a perennial problem with its public image. However, Business debt collection in London normally provide a modern professional service and are daily helping businesses control their credit and cash flow so they can keep trading.
The success of a Debt Collection Agency is results driven, with most reputable debt collection firms working on a ‘No Collection – No Costs’ basis they represent a much more efficient way to recover owed monies.
The commission fee for a debt that has been paid is usually around 10-20% (average 15%), which will be asked of the client, with any variation being based on factors such as value and age of the debt in question.
London is a thriving global city with a strong, growing economy and increasing population. The economic success of the capital has been driven by an increasingly connected and integrated global economy.
Due to this ever expanding city, there are a number of professional and licensed debt collection agencies in London and they have achieved their reputation accountability by getting their work done quickly, professionally and by conducting themselves in a customer/debtor friendly way.
When it comes to procuring a professional business debt collection service in London you need to be sure you are dealing with a licensed, accredited and professional Agency.
A reputable collection agency will always employ professional and ethical standards and focus on the importance of your customer retention. Most collection activity is performed by letter, email and phone; this is not only more practical and cost effective for collection agencies, but less intrusive and embarrassing for the client.
When choosing a Debt Collection Agency, make sure you do your research to make sure the company hold a high level of accreditation as well as checking the company’s reviews.
Debt Collection agencies are quick, efficient and increasingly the most viable option for companies across the United Kingdom when your business is encountering cash flow issues as a result of non-paying customers.
A Professional Debt Collection Agent will always provide a pre-instruction assessment to measure the realistic prospects of a recovery and advise you of the basis for their findings.
Federal Management are the UK’s most accredited Debt Collection Agency. As well as being authorised by the FCA, Federal Management is the only Agency to be awarded accreditation by the National Skills Academy for Financial service in addition to holding accreditations from Investors in People and the Credit Services Association. We also hold ISO:9001 accreditation for our high level of internal performance.
Our Low Cost service has been used by thousands of businesses in London, the Uk and across the globe and is second to no other in terms of cost, service and professionalism.
Call us free today on 0800 043 6922 to discuss your requirements and you will discover the benefits of working with the UK’s leading Debt Collection Agency.